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Polish GDP catching up with EU average

PR dla Zagranicy
Peter Gentle 17.04.2014 08:18
A new report by the finance ministry estimates that by 2017, GDP per capita in Poland will reach 74 percent of the average in the European Union.

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Warsaw – Royal Castle Square: photo - wiki/CC

The report, Multiannual State Financial Plan (Wieloletni Plan Finansowy Państwa), seen by the PAP news agency, notes that in 2008, GDP per capita in Poland was 56 percent and in 2012, 67 percent of the EU average.

"This will be possible thanks to dynamic GDP growth (which in 2017 is estimated to be around 4.3 percent)," the report claims.

Minister of Finance Mateusz Szczurek said this week that the report, to be adopted by the government next week and which forms the basis of calculating future budgets, estimates that GDP growth for 2014 will be at 3.3 percent and 3.8 percent in 2015.

The growth rate will create jobs and cut the jobless rate, the reports says, and by the end of the year, unemployment is expected to fall to 9.8 percent (from 13.6 percent in March) and 7.9 percent by 2017.

The Polish currency, the zloty, is expected to strengthen between 2014 - 17. "Strengthening of the currency should favour the strong fundamentals of the Polish economy," the report says.

Poland's economic growth is threatened by several external factors, including the conflict in Ukraine, lower absorption of EU funds and EU targets aimed at cutting CO2 levels, the report notes. (pg)

tags: economy
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